China's Macao, Inland to Forge Closer Business Ties

Home>>Business

Last updated at: (Beijing Time) Friday, July 26, 2002

China's Macao, Inland to Forge Closer Business Ties

Business relations between China's inland and Macao Special Administrative Region (SAR) have been smoothly under way and enjoy a sound prospect, a senior trade official said Friday.

DISCUSSION

CHINESE

SEND TO FRIEND

Business relations between China's inland and Macao Special Administrative Region (SAR) have been smoothly under way and enjoy a sound prospect, a senior trade official said Friday.

"The two places are seeking to establish a regular mechanism on closer business ties between Macao and inland at an appropriate time," An Min, vice-minister of the Ministry of Foreign Trade and Economic Cooperation (MOFTEC), said at a press conference after the inland and Macao SAR Business Promotion Committee's second annual meeting, attended by dozens of trade officials from both sides.

Trade between Macao and inland were "stable" last year, though the volume was not so large as that of Hong Kong and the country'sinterior, he said.

The trade official said he was "very pleased" to see the liberalization of Macao's gaming industry, an economic pillar for the Macao SAR.

"In addition, it is worth consideration to boost the business between China and Portuguese-speaking countries by taking advantage of Macao's traditional relations with them," he said.

Inland enterprises are welcomed to attend a Macao delegation that plans to visit Mozambique later this year, said Francis Tam Pak Yuen, secretary for economy and finance of the SAR government.

Macao is small in territory and inner market and short of natural resources. "Only by cementing economic links with the outside world can it obtain larger development space," Tam said.

To promote the economic integration with the inland is a strategy set by the SAR government, he said.

According to Tam, Macao will receive nearly 20 billion patacas (2.5 billion US dollars) of investment in the coming three to fiveyears after it opened up the gambling industry and the SAR aims tobe built into a service center at the western part of the Pearl river delta.

Inland tourists to Macao have been on fast growth in recent years, now making up more than 30 percent of the total visitor arrivals in the SAR.

Questions?Comments? Click here

Macao's Economy to Grow Faster in 2002: Official

Missing Worker Found, Relatives Mourn ( 5 Messages)

China's Economy Grew 7.8 Percent in First Half Year ( 18 Messages)

Chinese Office Software Challenges Microsoft's Win98 ( 13 Messages)

Gang of 66 Criminals Get Heavy Sentences ( 74 Messages)

Secret of China's Manned 'Spaceport' Revealed ( 3 Messages)

How to View Major Problems in China's Income Distribution System ( 134 Messages)